Antibody Firm KaloBios Prices $70M IPO in Lukewarm Debut

In the second biotech initial public offering (IPO) to price this week, antibody drug developer KaloBios Pharmaceuticals Inc. priced a slightly upsized offering of 8.75 million shares at $8 apiece for gross proceeds of $70 million. Like Stemline Therapeutics Inc., which priced an IPO Tuesday, KaloBios came in at the low end of its expected pricing range.